What are Veeam Replicas?
"In addition to backup, Veeam Backup & Replication can perform image-based VM replication. Veeam creates a “clone” of a production VM onsite or offsite and keeps it in a ready-to-use state. Each VM replica has a configurable number of failover points. Image-based VM replication is also available via Veeam Cloud Connect for Disaster Recovery as a Service (DRaaS)."
"Replica failover is switching from a damaged or failed production VM to its replica on a remote location. Replicated VMs are stored in a fully functional, ready-to-use-state, so failing over requires just a few seconds to power on the VM. You don't need any additional configurations or apply extra settings, because replicas have exactly the same configuration as their source VMs. To initiate a failover, right-click the required VM replica and choose “Failover Now” to start the failover wizard."
Failover is a process of switching from the original VM on the source host to its VM replica on the target host.
How to perform Replication Failover - 11:13 video by Joe Monahan
Veeam Backup & Replication - What Is Data Replication? - 26:54 video by Matt Price
Veeam Backup Failover Plan- 5:07 video
Veeam disaster recovery, Failover to replica. - 7:56 video
VM Replica Failover Using Veeam (v10) - 1:45 video
Replica Failover - User Guide
Replica Failover and Failback - User Guide
Failover Plan - User Guide